SpiceJet stock takes off on Jhunjhunwala stake buy
Jhunjhunwala has bought shares of all three listed airline entities in the country.
By ETMarkets.com | Updated:
BCCL
NEW DELHI: SpiceJet stock climbed 3 per cent on Wednesday on news that ace investor Rakesh Jhunjhunwala has bought an additional 10 lakh shares of the airline company last week.
The investor first bought shares of SpiceJet in 2012 and did a bulk purchase in November 2014 when the airline was on a downward trajectory, which led to closure of operations for a day in December, according to an ET report.
The stock rose 2.9 per cent to hit a high of Rs 145.20 on the BSE, eventually closing at Rs 142.50, up 0.99 per cent. Jhunjhunwala has bought shares of all three listed airline entities in the country.
The monthly data showed that SpiceJet’s domestic passenger volume grew 17.7 per cent YoY in January. It was up a healthy 23 per cent in December and 18 per cent for the third quarter.
Its market share stood at 12.6 per cent in January, compared with 12.7 per cent for December and 12.8 per cent in October-December. Meanwhile, the aviation industry is seeing good traction, with passenger load factor (PLF) at 89.1 per cent for January.
SpiceJet operates 408 average daily flights to 52 destinations, including 45 domestic and 7 international ones. The airline connects its network with a fleet of 38 Boeing 737NG and 22 Bombardier Q-400s.
The investor first bought shares of SpiceJet in 2012 and did a bulk purchase in November 2014 when the airline was on a downward trajectory, which led to closure of operations for a day in December, according to an ET report.
The stock rose 2.9 per cent to hit a high of Rs 145.20 on the BSE, eventually closing at Rs 142.50, up 0.99 per cent. Jhunjhunwala has bought shares of all three listed airline entities in the country.
The monthly data showed that SpiceJet’s domestic passenger volume grew 17.7 per cent YoY in January. It was up a healthy 23 per cent in December and 18 per cent for the third quarter.
Its market share stood at 12.6 per cent in January, compared with 12.7 per cent for December and 12.8 per cent in October-December. Meanwhile, the aviation industry is seeing good traction, with passenger load factor (PLF) at 89.1 per cent for January.
SpiceJet operates 408 average daily flights to 52 destinations, including 45 domestic and 7 international ones. The airline connects its network with a fleet of 38 Boeing 737NG and 22 Bombardier Q-400s.
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